say on pay News

In an early test of “say-on-pay” voting, a shareholder sued Hercules Offshore Inc. directors and top executives, demanding that they return big pay increases that shareholders voted against. At last month’s shareholder meeting, 59 percent of Hercules’ shareholders voted against …

Shareholders upset with ever-higher executive compensation packages are using new “say-on-pay” votes to challenge the payouts in court, a tactic raising eyebrows among legal experts. The lawsuits are zeroing in on companies that lose these advisory votes by shareholders on …